Waiting for the Market?

 

Is your business or career plan simply to “wait for the market to improve?”

If so, with all due respect, let me say, “ARE YOU FREAKING KIDDING ME?  That is not a plan. That is an admission you have no idea what you are doing and the bad market just ‘outed’ you.” 

Perhaps a better question for is, do you even have a plan?  I mean, a written plan that you believe, update and follow.

A plan is your communication with yourself and/or others of how to proceed.  It is essential. Otherwise you are adrift, floating at the mercy of the “winds and tides” of the economy, competitors and customers.

At my first job our department’s staff would split time between bemoaning and joking about management and management’s avoidance of the “P-Word”…. PLANNING!  Eventually, after several rounds of layoffs that company folded.   (I was let go in round three or four but had expected it and had a plan ready.)  Much of the company’s failure can be attributed to the lack of a real plan.  After all, without a plan how would any of us ever know where to go?

Market Reports

Even if limited, there is success in any market conditions in any industry.  Using the market as “the” excuse while others are still making money shows how emotional justification is used to justify one’s failure to be good at a job and a failure to work to be better.  But I digress…

A great plan is a living document.  It changes as conditions change, as situations change and as we learn.

And, if you are going to work on a plan but not keep it current, you are committing to another dangerous path.

For instance, if you were driving across the state and you came upon a washed out bridge, you’d alter your plan, right?  Same goes for business and markets!

How would you feel if you were sick and your doctor decided you should just wait to feel better before he will see you?   Likewise, are you sending signals to clients, colleagues or emplyees that they all just need to wait for the market to improve before you can be of much help?

I say that approach is crap.  It declares you are powerless to do your job.  If I were a customer, it would communicate to me…

“Well, if that company is powerless when things are tough (and when I need them the most), then they may really be powerless in any market conditions.  Now exactly why am I paying them if they are that powerless?”

Would you want someone with no plan to perform surgery on you?  Or sell your house?  What about get you a loan?  Or drive you cross country?

No plan usually equals waste, cost, aggravation and often failure.

Will a plan insure success… or survival?  No.  Of course not.  But it will improve your chances!   And at the end of the day, this is one of the best way to influence your own success (and the success of your clients, colleagues and employees)!


Glenn S. Phillips is the author of Nerd-to-English: Your Everyday Guide to Translating Your Business, Your Messages, and Yourself. His website, www.nerdtoenglish.com, will lead you to more information about effective communication training, risk assessments and genuinely helpful tips. You can email Glenn directly atglennsphillips@nerdtoenglish.com.

© 2012 All Rights Reserved.  Glenn S. Phillips and Forte’ Incorporated. (205) 985-1111

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About the Author

Glenn S. Phillips works with leaders who want to leverage technology and understand risks within. An author and blogger, Glenn is often quoted in national media, plays a really ugly tuba (it even has a bullet hole) and is a fan of dark chocolate and great puns.